The DOI matches its Crossref record; 60 of the 60 references it cites were found in a registry or an index.
Top Management Teams in Family‐Controlled Companies: ‘Familiness’, ‘Faultlines’, and Their Impact on Financial Performance
Abstract
This article examines the affect of family management on performance of the company. We examine how familiness can provide further insights beyond the classical demographic measures of top management teams (TMTs) in explaining variations in firms' financial performance. We combine arguments on the ‘bright’ and ‘dark’ side of family involvement in the firm; we complement positive predictions on family involvement with negative predictions and develop family firm‐specific measures of TMTs' familiness. Results indicate that while the presence of a family CEO is beneficial for firm performance, the coexistence of ‘factions’ in family and non‐family managers within the TMT has the potential to create schisms among the subgroups and consequently hurt firm performance. We find support for a hypothesized U‐shaped relationship between the ratio of family members in the TMT and firm performance. Additional evidence related to interactions between firm listing and CEO type on firm performance is then presented and discussed.
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Cites
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Upper Echelons: The Organization as a Reflection of Its Top Managers
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Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500
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How do family ownership, control and management affect firm value?
Villalonga, B., & Amit, R. (2006) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.12.005 · Cited by 4,185
Exploring the Black Box: An Analysis of Work Group Diversity, Conflict and Performance
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TOP MANAGEMENT TEAM DEMOGRAPHY AND CORPORATE STRATEGIC CHANGE.
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Cited by
Innovation in family firms: A systematic literature review and guidance for future research
Calabrò, A., Vecchiarini, M., Gast, J., Campopiano, G., De Massis, A., & Kraus, S. (2019) · International Journal of Management Reviews · doi:10.1111/ijmr.12192 · Cited by 495
Is family leadership always beneficial?
Miller, D., Minichilli, A., & Corbetta, G. (2013) · Strategic Management Journal · doi:10.1002/smj.2024 · Cited by 409
Self-citationGroup Faultlines: A Review, Integration, and Guide to Future Research
Thatcher, S. M. B., & Patel, P. C. (2012) · Journal of Management · doi:10.1177/0149206311426187 · Cited by 391
Metadata
- Authors
- Minichilli, A., Corbetta, G., & MacMillan, I. C.
- Venue
- Journal of Management Studies
- Publisher
- Wiley
- Published
- 2010-01-14
- Volume
- 47
- Issue
- 2
- Pages
- 205-222
- ISSN
- 0022-2380 (ISSN-L)
- 1467-6486
- OpenAlex
- W2146925828
- Cited by
- 513
- References
- 60
- FWCI
- 21.80
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
